Cantor Fitzgerald Sees 75% Upside for Solana Stocks

Cantor Fitzgerald has initiated coverage on three publicly traded companies with significant Solana holdings, suggesting that these stocks could see an upside of up to 75%. The investment bank has rated DeFi Development Corp (DFDV), Upexi (UPXI), and SOL Strategies (HODL) as "overweight," indicating that it expects these shares to outperform the broader market. The price targets set by Cantor for these companies are $45 for DFDV, $16 for UPXI, and C$4 (US$2.95) for HODL.

According to the analysts, Solana's architecture is superior to Ethereum's, as it avoids fragmentation and retains more value on-chain. This is due to Solana's all-in-one design, which allows it to operate entirely on its base layer, unlike Ethereum, which relies on external scaling networks known as Layer 2s. The analysts noted that Solana's technology is meaningfully better than Ethereum across every metric, making it a more efficient and unified system.

DFDV was highlighted as the strongest pick among the three companies due to its validator infrastructure and crypto-native leadership. The company runs two validator nodes, which process transactions on the network and earn additional fees. UPXI, which holds the largest SOL balance, benefits from its U.S. listing and trading volume, while HODL, operates four validators and has established several ecosystem partnerships.

Cantor's analysts believe that these Solana treasury companies are betting on the future of finance being on-chain, with Solana being the chain of choice. They also noted that these companies deserve to trade above the value of their Solana holdings due to their ability to stake tokens and earn rewards. This process involves users locking up crypto to help secure the network and receiving payments in return.

The analysts also pointed out that Solana-linked stocks could become the next generation of Bitcoin-style corporate reserve plays, referencing firms that buy Bitcoin as part of their balance sheet strategy. This suggests that investors are increasingly looking for new ways to gain exposure to fast-growing blockchain networks like Solana.